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XsunX Launches Turning Renewable Energy Into Renewable Revenues Initiative and Garners First 100kW Project

Posted on: Tuesday, 2 September 2008, 06:00 CDT

ALISO VIEJO, Calif., Sept. 2 /PRNewswire-FirstCall/ -- XsunX, Inc. (BULLETIN BOARD: XSNX) , a solar technology Company engaged in the build-out of its multi-megawatt amorphous thin film photovoltaic (TFPV) solar manufacturing facilities in Oregon, today provided an update to its business development initiative to utilize a portion of its future TFPV solar module manufacturing capacities for the construction of solar power fields.

In June of this year the Company announced efforts to develop business relationships directly with utilities working to meet renewable energy mandates and developers of Power Purchase Agreements "PPA". In July XsunX began participating in responding to requests for proposals from a targeted list of utilities and PPA opportunities located in the Western United States. The Company's principal goal under this initiative is to work to leverage the long term power production capabilities of each watt of its factory produced solar modules into greater per watt revenues for XsunX.

"Recently we received notice that XsunX was the successful bidder on one of the smaller projects we responded to, a 100kW government facility in Oregon," stated Tom Djokovich, XsunX's CEO. "This particular project is a proposed roof top solar site that XsunX would operate under a PPA selling the power produced to the agency over a negotiated term of between 15 to 20 years. During the next several weeks we hope to finalize the award and enter into a binding agreement. While this is one of the smaller projects we have bid, we are very excited about beginning to load our sales channel with projects that we believe offer greater long term revenue generating opportunities for us."

Currently the Company has provided proposals to utilities and government agencies representing approximately 6 megawatts of solar power fields to be built by XsunX and sold to the operators, and another 4.1 megawatts of solar power fields to be built and operated by XsunX selling the power production under long term PPA contracts to utilities. In addition to these proposals, the Company is currently in various stages of preparing proposals for another 11 megawatts of PPA's to be operated by XsunX and another 50 megawatts of solar power field construction for delivery to independent operators. XsunX is targeting projects for development over the next 3 to 5 years with start dates beginning in 2009.

"Rather then just selling modules wholesale to installers we are very excited about distributing some of our solar modules directly into a mix of project types offering either one time or long term larger gross margins for us," continued Djokovich. "In house we have labeled this business development program our "turning renewable energy into renewable revenues" initiative as we work to leverage our future solar module production capabilities. Obviously we are not guaranteed any of the projects we are bidding or proposing, so we will continue to identify more project opportunities and provide proposals with the goal of loading our project channel and eventually earning enough of these projects to utilize our future factory manufacturing capacities," concluded Djokovich.

For more information about XsunX, please visit http://www.xsunx.com/ .

Safe Harbor Statement: Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate,""believe,""estimate,""may,""intend,""expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

XsunX, Inc.

CONTACT: Investor Relations, XsunX, Inc., +1-888-797-4527

Web site: http://www.xsunx.com/

Source: PRNewswire-FirstCall

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